Here is a list of the top seven lowest variable-rate business loans on the market with a value of $150,000 and secured by residential property, according to comparison website Canstar.
At the time of writing, IMB’ Fully Drawn Loan offered the lowest rate at 5.09 per cent, while Newcastle Permanent was the next lowest at 5.37 per cent.
Hume Bank’s rate was at 5.60 per cent, while St.George Bank’s rate was at 6.72 per cent, and CBA offered a 7.98 per cent rate for its Agribusiness Variable Loan.
Bank of Sydney rounded out the top seven, with its Commercial Loan Variable rate at 9.33 per cent, and its Business Loan Variable rate at 9.98 per cent.
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